Life is unpredictable. Peace of mind is priceless.
None of us can predict when or how we'll depart this world, but we can prepare for the impact it has on those we love. Life Insurance is not just a policy; it's a promise to care for those you leave behind.
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37,569
registered deaths in New Zealand in 2023 – that's the population of Gisborne
2×
Kiwis are twice as likely to play Lotto than to have Life Insurance
3,800×
Kiwis are 3,800 times more likely to die than to win Powerball
So why gamble with your family's future?
Do I need Life Insurance?
Everyone's situation is different, but imagine what happens when you pass away. If your spouse, children, or family members rely on your income, they'll suddenly face a financial gap. Without that safety net, they might have to make difficult choices; working extra hours, selling property, or dealing with debts they can no longer afford. On top of this, there are final expenses, like funerals, that add stress at an already difficult time.
Life insurance offers a financial cushion, absorbing the shock and protecting your loved ones from having to make these tough decisions.
People often think about life insurance during big life events. These are the moments when it becomes clear how much your family depends on you:
- Buying a house
- Getting married
- Starting a family
How much do I need?
It's not always obvious how much Life Insurance you may need. An adviser looks at your income, debts, lifestyle, and long-term goals to recommend a policy that fits your family's specific needs. Many people have a particular budget in mind, or may have long-term financial goals which can be factored into a policy.
An adviser also helps with a recommendation of a particular insurer and policy to help you meet your financial goals and budget.
Get a Free Recommendation →Common myths about Life Insurance
Myth 1: "Life insurance is too expensive."
Life insurance is often much more affordable than people think, especially for younger people or those in good health. A basic policy can cost less than a cup of coffee per week. Locking in a policy now means lower premiums and long-term peace of mind. A financial adviser can help you work something into your specific budget.
Myth 2: "I'm young and healthy. I don't need life insurance yet."
That's actually the perfect time to get cover. As we get older, we pick up various health conditions along the way, which can lead to policy loadings or exclusions. Securing cover early gives you lower premiums and more options. It's about planning for the future, not just the present.
Myth 3: "I have coverage through work, so I don't need more."
Workplace life insurance is a great perk, but it usually offers limited coverage; often just one to two times your annual salary. That amount may not be enough to cover a mortgage, debts, or children's ongoing needs.
Myth 4: "It's too complicated to figure out how much I need."
That's exactly what a financial adviser is for. We look at your income, debts, lifestyle, and long-term goals to recommend a policy that fits your family's specific needs.
Myth 5: "I'm single with no dependents, so I don't need it."
Even without a spouse or children, life insurance can still matter. You may have debts that someone would have to settle, or you may want to leave something behind for aging parents or siblings. Buying a policy now also locks in lower premiums if your situation changes.
What it's like working with us
Our services are completely free to you. At Price-Milne Financial Services, we offer personalised, flexible services from experienced advisers who understand that no two clients are the same. We break down the jargon and explain everything in plain language, so you feel confident about your decisions.
Life changes, and so should your insurance. We offer regular reviews to ensure your policy still meets your needs and your premium is fair.
"Lewis has been really great to work with. Explained all the different options and the plans and helped to choose the best and affordable one. Been a pleasure to deal with and would definitely recommend Lewis." Mani – Life Insurance client
Other covers we advise on
Trauma Insurance
A lump sum for serious illness or injury; gives you financial breathing room to recover.
Learn more →Life insurance questions Kiwis ask
How much life insurance do I need?
A common starting point is enough to clear your mortgage and debts, cover your family's living costs for a number of years, and allow for things like childcare or education. The right number is personal, though, which is why we calculate it around your income, debts and goals rather than a rule of thumb.
Is life insurance worth it if I'm young and healthy?
That's often the best time to take it out. Premiums are lower when you're younger and healthier, and you lock in cover before any health conditions appear that could lead to exclusions or higher costs. It's about securing your position for the future, not just today.
I have life cover through work. Isn't that enough?
Workplace cover is a great perk, but it's usually limited (often one to two times your salary) and it typically ends when you leave the job. For most people with a mortgage or family, it's a useful top-up rather than a complete solution.
Does life insurance pay out for terminal illness?
Most life policies include a terminal illness benefit, which can pay your cover early if you're diagnosed with a terminal condition and given a limited time to live. This can help you get your affairs in order and ease financial pressure. Exact terms vary by insurer.
What does life insurance actually cost?
Less than most people expect, especially for younger, healthier applicants. Premiums depend on your age, health, smoking status, cover amount and whether you choose level or stepped premiums. We'll find a structure that fits your budget and explain the trade-offs.
Ready to sort your cover?
Getting the right insurance doesn't have to be complicated. Lewis will listen, compare options from multiple insurers, and recommend cover that genuinely fits your life, with no pressure and no jargon.
Free initial consultation · No obligation